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Banks, Tech Companies Move On From Bitcoin To Blockchain


Ron Burgundy
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An illustration photo shows a Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen at La Maison du Bitcoin in ParisBy Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on. "If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries." Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions.




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